Obtaining a second passport is one of the most important things a person can do to safeguard their future. A second citizenship grants a “Plan B” to work, live, invest, or retire to a new country if your primary country proves increasingly unsatisfactory, unaffordable, or unstable.
The great thing about countries that allow for dual citizenship is that you don’t have to give up your primary passport to gain an additional one, increasing your global freedom. One of the more attractive countries for second citizenship (ranked as the 37th best passport in the world) is the small island nation of St. Lucia in the Caribbean’s Lower Antilles. This country offers foreign investors the opportunity to swiftly and efficiently receive a second passport through one of the more affordable citizenship through investment programs in the world.
Some of the Perks of the Citizenship Through Investment Program
When compared to other means of obtaining a second citizenship, such as naturalization, getting a St. Lucia passport through investment is quick and offers some great benefits to the holder. Some of these benefits include the lack of restrictions on physical residency in the country to qualify, no need to be in St. Lucia for the processing, no tax on worldwide income, legal residency for dependent children below 25 years of age and seniors above 65 years of age, and no interview process to be approved.
Perhaps one of the most attractive parts of receiving citizenship by investing abroad in St. Lucia is the visa-free travel to the Schengen Area countries of the EU (26 nations in total, including Switzerland), Hong Kong, and the United Kingdom.
Who Can Apply for Citizenship Through Investment?
So long as a potential foreign investor has a clean criminal record and passes a health examination from an approved doctor, they are capable of applying for St. Lucian citizenship through investment. The investment itself must satisfy one of the following criteria to be approved:
- Monetary Donation to the NEF (National Economic Fund)
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- Does not require investor to purchase or maintain property in St. Lucia
- Price Breakdown
- Single Application: $100,000 USD
- Applicant and Spouse: $165,000 UDS
- Applicant, Spouse, and up to 2 Dependent Children: $190,000 USD
- Any Additional Single Dependent: $25,000 USD each
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- Investment into St. Lucia Real Estate
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- Investors must purchase a property in St. Lucia for at least $300,000 USD
- The investor must be the primary owner of the property for at least 5 years in order to maintain the St. Lucia citizenship requirements.
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- Investment into Government Bonds
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- Price Breakdown, in addition to a $50,000 admin fee per application:
- Single Application: $500,000 USD
- Applicant and Spouse: $535,000 USD
- Applicant, Spouse, and up to 2 Dependent Children: $550,000
- Any Additional Single Dependent: $25,000
- Price Breakdown, in addition to a $50,000 admin fee per application:
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- Enterprise Project Investment
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- Foreign nationals can also invest into approved enterprises in St. Lucia that create at least 3 jobs in the country.
- Price requirement is a minimum of $3.5 million USD, while two investors can enter into a joint enterprise of $6 million USD, creating six jobs in total.
- Enterprise endeavors must fall into one of the following categories:
- Cruise ports and marinas
- Agro-processing plants
- Pharmaceuticals
- Ports
- Bridges
- Roads and highways
- Offshore universities
- Specialty restaurants
- Research institutions
St. Lucia Economic Data
- Population: 178,000
- Total GDP: $1.428 billion
- GDP per capita: $8,135
- Currency: East Caribbean dollar (1 XCD = 0.3704 USD)
- Vehicles will have a 50%-60% import tax put on them
- Agriculture, tourism, offshore banking, finance, and petroleum-related industry makes up the overwhelming
majority of St. Lucia’s economy.
If you’re interested in beautiful beaches, friendly locals, a favorable exchange rate, and the peace of mind that comes with the security of having a second passport, there are few places in the world as enticing as the Caribbean island of St. Lucia in the Lower Antilles.
Author Bio:
Tyler Sorce is an American writer and digital nomad currently living in Lisbon, Portugal. In a past life he was a chef in Manhattan and Paris, follow his travels and favorite dishes on Instagram.
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